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Niftyanalysis

Morning Mantra - 5th April 2023Dear All, After the beautiful Morning Star formation on the weekly chart, we had seen a gap up opening in Nifty on Monday . While we are back again after spending a holiday, we are now expecting a sideways to positive Market momentum with the stop loss of 17300 on a closing basis, for the 2 remaining trading days, as we have 1 more holiday coming up on this Friday. In the meanwhile, continue following the Cherry picking strategy . Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
NIFTY Intraday Trade Setup For 5 Apr 2023NIFTY Intraday Trade Setup For 5 Apr 2023 Buy-Above 17430 Sl- 17380 T- 17530 17615 Sell-Below 17310 Sl-17360 T- 17195 17080 NIFTY has closed on a bullish sentiment with 0.22% gain. Bullishness will continue above today's high. In case its low is breached then there will be good down move. Best scenarios will be on flat opening for both side trades. There is a holiday on Tuesday so chance of a gap up/down opening on Wednesday . Above 17430 it will fill the gap near 17600. Bullish sentiment will be intact till we safeguard PDL on closing basis. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 17430 then we will long for the target of 17530 and 17615. For selling we need a 15 Min candle close below 17310. T- 17195 and below 17190 we will test 17080. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
Morning Mantra - 3rd April 2023Dear All, Finally on the last trading day, we had witnessed a beautiful breakout in Nifty. Wherein the most beautiful part was that it consisted of the 2 important levels of 17180 as well as 17300. As these were the 2 levels that had played a very crucial role as a level of support for the Market in the previous timeframe. As of now, we can observe a very beautiful formation of Morning Star at a very crucial support level of 16800 on a weekly timeframe. So, this positive formation is somehow indicating a bounce back in Nifty , wherein it is being expected to go up to the level of 17800. Moreover, this level of 17800 will once again work as a level of Resistance, and for the time being we are still with our words that following the Cherry Picking strategy will be a good idea here, with the stop loss of 17180. Yes, for now, we are upgrading our support level from 16800 to 17180 , after observing a beautiful recovery in the Market on the last trading day of the FY 2022-23. Furthermore, we are very hopeful and optimistic on the Market, for this new financial year 2023-24 Last but not the least, Wishing you all a very happy & a prosperous New Financial Year! Happy Trading! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 3 Apr 2023NIFTY Intraday Trade Setup For 3 Apr 2023 Buy-Above 17385 Sl-17335 T- 17500 17600 Sell-Below 17305 Sl- 17355 T- 17193 17080 NIFTY has closed on bullish note last week. It ended with 2.45% gain. Monthly candle closed on Friday which is a neutral doji. After relentless selling of more than 3 months it has now shown sign of pause. High and low of this doji candle is very important. Below 16800 we will start the next leg of positional down move and above 17800 we will start a fresh up move in the short term. 17190 is very important point and key level for both sides. Next important resistance is 17600. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 17385 then we will long for the target of 17500 and 17600. For selling we need a 15 Min candle close below 17305. T- 17193. Below 17190 we will test 17080. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
NIFTY - Contraction Burst (Weekly View)After A sharp up move from 15200 zone index gave almost 24% rally from bottom. After a trendy move index has declined 5% from top- 18800+. It has been trading in range since last 3 weeks; almost a month. The range is 18270 and 17760. This range has been formed in weekly TF. Looking at the weekly candles we can clearly sense that contraction has happened for a month. Contraction burst is likely to happen in the coming week on this range breakout. Now lets look at the target projections on each case. If range breaks downside below 17760 then we will test 16700 in between 17165 will be short term base/support. Weekly TF Daily TF Now if range breaks upside above 18270 the we will test 18900. Then if 18900 is sustained then there will breakout in monthly TF and we will test 19661 and 20000. Weekly TF Daily TF After breakout previous swing low/high in daily TF will be sl either side.
NSE:NIFTY
by Omahto
Morning Mantra - 31st March 2023Dear All, After a day’s break, here we are with our Morning Mantra on Nifty for Today! So finally on Wednesday , we had witnessed a beautiful recovery in Nifty , which was expected. Moreover, we also got a closing of 17080.70 , but still we need a positive and a stable closing of above 17180 . As this is the last trading day of this week, so we have to observe the Market today , for a positive closing. Wherein, Cherry Picking strategy will be a good idea as of now, with the stop loss of 16800 . Furthermore, Today’s closing will be very important for the Market Participants. Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 31 Mar 2023NIFTY Intraday Trade Setup For 31 Mar 2023 Buy-Above 17130 Sl-17080 T- 17210 17300 Sell-Below 16990 Sl-17040 T- 16910 16815 NIFTY has closed on a bullish sentiment with 0.76% gain on Wednesday. It closed in a proper bullish sentiment after so many days. This bullishness will continue above last day's high- 17130. Important level for downside is 16900. This level is very crucial and breakdown will lead to a parabolic down move. Last day buy triggered and hit gave 50 points in the 1st go and 130 points in the second go. Tomorrow's ideal trades will be executed on flat opening. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 17130 then we will long for the target of 17210 and 17300. For selling we need a 15 Min candle close below 16990. T- 16900 and 16815. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
NIFTY Intraday Trade Setup For 29 Mar 2023NIFTY Intraday Trade Setup For 29 Mar 2023 Buy-Above 16995 Sl-16945 T- 17117 17210+ Sell-Below 16910 Sl-16960 T- 16815 16700 NIFTY has closed on a slight bearish note with 0.2% cut. Today nothing triggered as per trade setup as it traded inside yesterday's range. 10 o'clock range broke downside below 16971 and gave more than 40 points gain which was more than 1:1. It has formed a base at 16915. Breakdown of 16900 will lead to a parabolic down move. Above 16995 if sustained we will head higher towards 17117 main hurdle will be today's high. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 16995 then we will long for the target of 17117 and 17210. For selling we need a 15 Min candle close below 16910. T- 16815 and 16700. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
Morning Mantra - 28th March 2023Dear All, Yesterday was a very volatile day, which had finally ended with a perfect Doji , a single body formation. Furthermore, a cross harami formation, which is a double body formation altogether is once again indicating a reversal in this declining trend of Nifty. So, as of now, still these 2 important levels of Nifty, i.e., 16800 and 17180 are active and are waiting for an either side breakdown or breakout. Till then keep following the Cherry Picking strategy . Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
2
NIFTY Intraday Trade Setup For 28 Mar 2023NIFTY Intraday Trade Setup For 28 Mar 2023 Buy-Above 17095 Sl-17045 T- 17210 17300 Sell-Below 16915 Sl-16965 T-16815 16700 NIFTY has closed on a slight bullish note with 0.24% gain. Inverted hammer like candle has been formed in daily TF which indicates bull's try in today's session. High and low of today's session is important for direction picking. Below today's low there can be good fall and if it sustains above 17095 then we can see good up move. Today buy triggered above 17000 and gave 90 points. It was kangaroo market today. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 17095 then we will long for the target of 17210 and 17300. For selling we need a 15 Min candle close below 16915. T-16815 and 16700. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
2
Buy Nifty Intraday BTSTNifty has given breakout for falling trendline in 30 mints and this is a positive indication that, this will move towards 17200 levels till tomorrow. MACD also showing a bullish crossover, So if anyone wants to go long from this level can go with current running price 17041 and keep a stop loss at 16900 and go for targets above 17100/17150/17200+ Chances are high we can see targets today only but if not happening today then wait till tomorrow that is why this is a BTST trade. Option lover can buy:- Nifty Mar 17050 CE at 102 now keep stop loss a 50 target 150/175/200+ If anyone like my work please do not hesitate to like follow and comment. Thankyou
NSE:NIFTYLong
by TraderRahulPal
NIFTY Intraday Trade Setup For 27 Mar 2023NIFTY Intraday Trade Setup For 27 Mar 2023 Buy-Above 17000 Sl- 17050 T- 17100 17200+ Sell-Below 16915 Sl-16965 T- 16825 16725 NIFTY has closed on a bearish sentiment last week and day. It closed with almost 1% cut last week. Current important levels are 17210 and 16800. Above 17210 we will plan the reversal trade towards 17600 and above. Below 16800 bearish move will continue and it will start the leg towards 16600 and 16200 (extreme case). However if we close in green and make a green candle this week then we will probably reverse in the coming weeks. Till then we have to follow the same sell on rise approach. Coming to Monday's trade setup, if index opens flat and a 15 Min candle close 17000 then we will long for the target of 17100 and 17200+ For selling we need a 15 min candle close below 16915. T- 16825 and 16725. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
3
Morning Mantra - 27th March 2023Dear All, So, in the last week we had seen the importance of the 17180 level as a Resistance on a closing basis. Wherein, on not being able to sustain over the same, Nifty had shown us a further decline towards the level of 16945. So, in overall Nifty is currently somehow consolidating between the levels of 17180 and 16800. Furthermore, just as we had stated on the last Friday, that if the index fails to sustain above 17180, then we can expect the level of 16800 again. So, here we have to be a little cautious with the Cherry Picking strategy and a positive mindset that we can expect a bounce back with the support of 16800 on a closing basis. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Morning Mantra - 24th March 2023Dear All, So, finally once again we had seen the magic of 17180 level . As even after making a high of 17205.40, Nifty had ultimately given us a closing of 17076.90 Today will somehow be a very crucial day, where the bulls are waiting for a closing of above 17180. Because for the past consecutive 2 days , Nifty tried its best to cross this Resistance level of 17180 . But had somehow failed on a closing basis. So, as of now, we are still with our words to continue following the Cherry Picking strategy, with the support of 16800 on a closing basis. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 24 Mar 2023NIFTY Intraday Trade Setup For 24 Mar 2023 Buy-Above 17120 Sl- 17070 T- 17200 17295 Sell-Below 17045 Sl-17095 T-16950 16850 NIFTY has closed on a bearish sentiment with 0.44% cut. It was a full volatile session from opening. Today it opened gap down and 10 o'clock range broke upside above 17131 and gave a good move till 17200+. Last swing high low was of 30 points so with 30 points sl it gave more than 70 points gain. Now 17210 is important for the upside move and we will plan the positional buy above 17210 for the initial target of 17600. Below 16800 once again we will sit on the sell leg positionally. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 17120 then we will long for the target of 17200+ and 17295. For selling we need a 15 Min candle close below 17045. T- 16950 and 16850. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto
Morning Mantra - 23rd March 2023Dear All, After witnessing a gap up opening in Nifty yesterday, there was a hope that the Index might give us a closing of above 17180 . However, unfortunately that did not happen . Which, therefore, is a clear indication that the level of 17180 is still working as a strong Resistance for the Market.  Furthermore, we are still with our words, that aggressive buying should be avoided , until and unless Nifty gives us a closing of above 17180. As it is only after this breakout, that we can witness a significant uprise. Besides, we are still positive on the Market for the upcoming 8-9 days. So, in the meanwhile, keep following the Cherry Picking strategy with the support of 16800. Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY Intraday Trade Setup For 23 Mar 2023NIFTY Intraday Trade Setup For 23 Mar 2023 Buy-Above 17166 Sl-17115 T- 17270 17365 Sell-Below 17105 Sl-17155 T- 17028 16950 NIFTY has closed on a bullish sentiment with 0.26% gain. It has formed a spinning top candle in daily TF which is a sign of halt/rest. Above its high bullish momentum will continue and below its low if sustained we will see a down move. Today it opened with a small gap up and just traded between 10 o'clock range for the whole day. It was complete sideways after 10 o'clock. Consolidation before event in US may trigger a big move tomorrow. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 17166 then we will long for the target of 17220 and 17365. For selling we need a 15 Min candle close below 17105. T- 17028 and 16950. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:NIFTY
by Omahto